This invention constitutes an improvement over my earlier drinking fountain as disclosed in U.S. Pat. No. 3,498,269. In this known device, the valve seat is mounted at a specific point within the tap housing. When manufacturing tolerances occur within the construction of the known tap housing such as the valve plunger or stem, the lever or the spring action, it is quite involved to make the appropriate adjustment to correctly establish the position and power for a safe valve closure. Additionally, the end of the spring-loaded valve plunger or stem directed toward the valve seat acts as a sealing member which shuts off the water flow by pressing against the valve seat. The valve-seat end of the stem is removed from the valve seat when actuated by the toggle lever, thereby causing water to flow under pressure through the valve housing. It is advantageous for the valve plunger or stem to be rotatable about its own axis, thereby avoiding any wear which might result from concentrated action of the lever arm on a specific point of the free end of the valve stem or plunger. However, wear is caused at the valve seat of the valve plunger or stem due to such rotation. Consequently, the sealing action at the end of the valve stem is reduced, and operating reliability of the device is affected accordingly.